Become a customer

ENRC sells Northam Platinum stake for $203m

ENRC has sold its 13% stake in Northam Platinum for ZAR2.5 billion ($203 million), the South African platinum producer said on Tuesday March 10.

March 10, 2015
By Generic people page
Base metals Copper

ENRC has sold its 13% stake in Northam Platinum for ZAR2.5 billion ($203 million), the South African platinum producer said on Tuesday March 10.

The Kazakh-based miner conducted a strategic review and concluded that the stake was a non-core asset, Northam said.

The stake was written down by $120 million in early 2013 as ENRC announced various impairments.

“Prior to this announcement, ENRC held 51,732,782 ordinary shares in Northam constituting approximately 13.01% of Northam’s issued share capital […] the entire ENRC stake was placed at a price of ZAR48.25 per Northam share, representing a total transaction value of approximately ZAR2.5 billion,” Northam said.

ENRC, which makes products including copper, ferro-alloys and cobalt, delisted from the London Stock Exchange at the end of 2013 when it was bought out by its founding shareholders, becoming part of Eurasian Resources Group.

Janie Davies 
jdavies@metalbulletin.com
Twitter: @janiedavies_mb 

What to read next
Nickel bears on borrowed time
Navigating LME nickel: A cautious optimism amid bearish sentiment
February 6, 2025
 · 
By Andy Farida
Lighting, Stage, Texture
DeepSeek, data centers and copper demand | Hotter Commodities
There’s broad agreement that DeepSeek has upended the artificial intelligence (AI) sector by developing a cutting-edge large language model that uses less computational power, but whether improved AI efficiency cuts demand for copper in the data centers used to power it is a matter of debate.
February 6, 2025
 · 
By Andrea Hotter
Modern automobile production line with automated production equipment
Auto sector to keep fuelling India’s aluminium demand jump: MRAI Jaipur
Aluminium demand in India is set to continue its sharp growth over the next three years, fueled by an expanding automotive sector in the South Asian country, Fastmarkets heard at the Material Recycling Association of India (MRAI) international conference held in Jaipur on January 28-30.
January 31, 2025
 · 
By Lee Allen
Amendment to frequency of two copper concentrates index coefficients
After a consultation period, Fastmarkets is increasing the publication frequency of two copper concentrates index coefficients — MB-CU-0422 copper concentrates counterparty spread and MB-CU-0423 copper concentrates Co-VIU — from monthly to fortnightly.
January 24, 2025
 · 
By Sally Zhang
Glencore-Rio Tinto’s ditched discussions | Hotter Commodities
Over a decade since its first attempt, Glencore appears to have taken another tilt at Rio Tinto.
January 20, 2025
 · 
By Andrea Hotter
Supply concerns, challenges ahead for secondary copper, blister into China | 2025 preview
Participants in the market for copper scrap and blister in China, the world’s largest importer of copper raw materials, expect there to be fiercer competition for material in 2025, industry sources told Fastmarkets in the week to Thursday January 9.
January 17, 2025
 · 
By Sally Zhang